According to this story by Derek Simmonsen in The Columbia Flier, Kimco Realty Corporation, the owner of the Wilde Lake Village Center, has abandoned plans to redevelop the center with 500 apartments and a scaled down retail component.
“When we first started this, the marketplace was different than it is today,” explained Geoffrey Glazer, Kimco’s vice president of acquisitions and development, at a meeting Monday at the village center’s Slayton House.
“I have no idea what the concept is (now),” he added. “The economy keeps changing on me and I don’t have all the answers because they keep evolving.”
Given the current situation in the credit markets, the availability of financing for the project was probably questionable.
Kimco will, however continue to advocate for the passage of Council Bill 29 (ZRA 102).
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